CBS Board Elects Leslie Moonves As Chairman - Quick Facts

(RTTNews) - CBS Corp. (CBS.A, CBS) announced that Leslie Moonves has been elected the next Chair of the CBS Board. He also will continue to serve as President and CEO. Moonves' election follows the recent resignation of Sumner Redstone from his position of Executive Chairman, which was effective February 2, 2016.

The company said, before electing Moonves, the CBS Board offered the position of Non-Executive Chair to Ms. Redstone, but she declined in light of her other professional and personal responsibilities, and in recognition of her confidence in Moonves. Ms. Redstone will continue to serve as Vice Chair of the CBS Board, a position she has held since 2005.